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Dobija Mieczysław (Cracow University of Economics, Poland)
Monetary Causes of the Instability of Financial Systems
Argumenta Oeconomica Cracoviensia, 2010, no 6, s. 33-50, rys., tab., bibliogr. 19 poz.
Konwersja, Sektor publiczny, Banki centralne, System finansowy, Produktywność pracy
Conversion, Public sector, Central banks, Financial system, Labour productivity
This study stresses that economics scarcely implements such fundamental laws as the first and the second law of thermodynamics, yet without these fundamental laws nothing can be correctly understood or carried out. What is worse, the activities of central banks often run contrary to the first law, creating money for commercial banks' use, which is an abnormal situation and an experiment in creating energy from nothing. It cannot work positively. (fragment of text)
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  15. Mesjasz, C. and Rogowski, W. (2005) "A Survey of Définitions of Financial Stability" in M. Dobija and S. Martin (eds) General Accounting Theory. Towards Balanced Development. Cracow University of Economics.
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